Introduction to Assets and Liabilities for Kids and Teens This video explains the concept of assets and liabilities in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about assets & liabilities, or used as a money & personal finance resource by parents and teachers as …
When we talked about credit report, you said I should review it periodically. But why do I need to review my credit report? You need to review your credit report because any incorrect information on your credit report can negatively impact your loan applications, like a mortgage, and credit card applications. Also, reviewing your …
Comparison: Credit Cards vs Debit Cards for Kids and Teens This video does a credit card vs debit card comparison in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about the advantages and disadvantages of each, or used as a money & personal finance resource …
I’ve often heard people talk about credit report and credit score interchangeably. But, based on what you’ve told me, I think they are different, aren’t they? That’s right, they are related, but quite different. Your credit report contains information about your financial history and behavior, whereas your credit score summarizes these details into a …
We’ve talked about the importance of periodically reviewing our credit report. But is there a way to get a copy of my credit report for free? Each credit bureau offers your credit report for a small fee, but yes, you can also get a copy of your credit report totally free through other avenues. …
As we’ve discussed earlier, both Conventional Mortgages and FHA Loans help us buy a home through a loan. We make a down payment, and repay the loan principal, interest, etc through monthly payments. But what are the differences between them? The main difference is in terms of credit score and minimum down payment requirements. …
We have talked about home equity loan and home equity Line of Credit or HELOC in the past. But can you please quickly summarize these for me? Both home equity loan and home equity Line of Credit let you borrow against your home equity. Both could give you access to a large amount of …
What is a Home Equity Loan? It is a loan where you borrow money using your home equity as collateral. It is also known as a second mortgage. How does a Home Equity Loan work? A home equity loan is like a regular loan, where you get all the loan money upfront. You repay …
What is Home Equity Line of Credit? A home equity line of credit or HELOC is a revolving line of credit, based on the equity you have built in your home. How does Home Equity Line of Credit work? It is very similar to a credit card borrowing limit – the lender fixes the …
What is Home Equity? Home equity is based on the fact that even if your home is in your name, you don’t really own 100% of it if you have borrowed money to buy it and are still repaying the mortgage. Home equity is the portion of your home that you truly own. Can …
